Tie Up Between Russian Standard And CEDC Could Create Regional Vodka Giant

Russian-based vodka producer Russian Standard has made an offer to Poland-based Central European Distribution Corp (CEDC) that could see it take a 32.99% stake in the business. CEDC is under pressure due to concerns over its large debt pile, with US$207mn of its debt due in 2013. Russian Standard currently owns 9.9% of the business and is also an important debt holder. The proposed deal would see Russian Standard exchange US$103mn of CEDC debt for common stock at a price of US$7 per share. This would give it a 25% stake in the business and the second part of the

To read the full article, please choose one of the following options: